This could be the hottest summer ever for freight
Inbound TEU bookings are set to exceed 2020 peak by nearly 8% this week
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Chart of the Week: Inbound Ocean TEU Volume Index , Van Outbound Tender Volume Index – USA SONAR:IOTI.USA, VOTVI.USA
The Inbound Ocean TEU Volume Index (IOTI), which measures maritime bookings for twenty-foot equivalent units for U.S. imports, is set to hit an all-time high this week. The IOTI starts in January 2019 but covers one of the most active periods in maritime shipping thanks to the pandemic. With imports being tied more closely than ever to surface freight volumes and transportation demand, this could be a signal of an extremely active summer for domestic surface transportation providers.
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Tender volumes flat week-over-week at very high level
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Increasingly difficult yearly comps are a distraction; the market is rolling 561 7 minutes read
Last week’s DHL Supply Chain Pricing Power Index:
The
FreightWaves
The Pricing Power Index is based on the following indicators:
Load volumes: Absolute levels positive for carriers, momentum neutral
The freight markets have reentered “chaos is business as usual” territory. There has been very little change to any of the major indices this week as the Outbound Tender Volume and Reject Indices have both walked along the x-axis for two weeks now. Since the winter blizzard disruption, tender volumes took a leg up and have remained elevated since. We seem to be near the natural peak in tender volumes (and rejections), but the spring freight season is upon us.